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August 27, 2012

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Here's the The Lowdown from DN Journal,
updated daily
to fill you in on the latest buzz going around the domain name industry. 

The Lowdown is compiled by DN Journal Editor & Publisher Ron Jackson.

Former Moniker VP Victor Pitts Takes New Position as VP at DomainIt.com + Sex.com Auction Called Off

Domain industry veteran Victor Pitts, who recently left his position as a Vice President at Oversee.net's Moniker.com, has accepted a new executive position with Cincinnati, Ohio 

based registrar DomainIt.com. In his new role, Pitts will be responsible for growing market share and profits for DomainIt’s core domain registration business, as well as evaluating and overseeing new business ventures for the company. 

During Pitts's years at Moniker.com, domain registrations grew from 300,000 to 3 million. Prior to joining Moniker, Pitts ran Nexlook Designs, his own web hosting and development company, and also had a successful career as a national sales executive with Motorola.

Pitts said, “In addition to helping grow core services, I’ll be working to better understand and harness some of DomainIt’s impressive intellectual property to better serve clients. This company has a strong foundation of providing quality services for nearly 15 years, and CEO/Founder Paul Goldstone's vision of 

Victor Pitts
Vice President, DomainIT.com

the future is ambitious. Together, we have an excellent opportunity to grow the business by providing better services for both domain investors and business owners.”

Paul Goldstone
DomainIt.com Founder & CEO

Goldstone said, “We think there are some significant opportunities being overlooked in the current business climate. Bringing Victor on board was an opportunity we couldn’t pass up. He will be working on some exciting new business ventures, where his leadership experience and industry connections can benefit DomainIt tremendously. We fully expect him to hit the ground running.”

DomainIt is an ICANN-accredited registration and hosting company that was founded in 1996. The company developed the first ever domain search interface to determine if a particular domain was available for registration. 

As a domain investor with more than 1,000 names in his portfolio, Goldstone said he knows what a professional domain investor is looking for in a Registrar. In addition to running DomainIt, he also operates DomainSearch.com  

and domain industry directory, iGoldrush.com. Goldstone is also a  member of the ICANN Registrar Stakeholder Group. He designed and maintains the official ICANN website for that group. 

Elsewhere, the Sex.com foreclosure auction that had been scheduled for Thursday (March 18) has been cancelled. The move came after creditors of current Sex.com owner Escom, LLC filed an involuntary Chapter 11 bankruptcy petition against Escom today in the United States Bankruptcy Court for the Central District of California (San Fernando Valley Division). 

A press release says the petitioners took this action to protect their interests and to maximize value for all other creditors and equity holders.  The filing will stay the public auction foreclosure proceedings which petitioners believe would have diminished the value of Escom's assets. With the fate of Sex.com now in court, it will likely be some time before the domain's future is determined.

In another important legal note, a confidential settlement has been reached in the lawsuit between Thought Convergence Inc. (parent company of TrafficZ.com) and Jay Westerdal. A dispute developed after Thought Convergence acquired Westerdal's company, Name Intelligence for $16 million in 2008. DomainNameWire.com released the settlement news Sunday night but since it broke over the weekend we wanted to bring it your attention in case you missed it as this is an important positive development for both sides.

One other note today -  Francois Carrillo, the owner of brandable domains sales site Mocus.com, has decided the site needs a new brand of its own. As a result Carrillo (who also owns the popular domain news aggregation site Domaining.com) announced that Mocus.com will be reborn as Catchy.com within the next few days. Carrillo said he was able to acquire the new domain name for an undisclosed amount. 

"The site will be redesigned and the service improved," Carrillo said, adding, "the core will continue to be the promotion and sale of catchy domains."

(Posted March 17, 2010)

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